While consumers do spend a lot during the holiday season, trader Tim Seymour said that corporate structural issues are even more evident during times of high demand.

The department stores seem to be the hardest hit, trader Karen Finerman said. She also said that there seems to be concern about a potential border tax, which is inordinately punishing the department store stocks.

Trader Steve Grasso said that proposed import taxes could potentially become a bigger headwind than the benefits of corporate tax cuts. While it's not clear which force will prevail in retail, Grasso argued that investors who want to buy into the retail sector should look at Amazon.